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Emergency Fun

Here’s something you might as well know about me up front. Until nine months ago, my husband Doug and I had never had an emergency fund.

I know, I know. It flies in the face of all that is good and sensible not to save up at least three to six months of your monthly expenses, in case you lose your job or become disabled. But somehow we always managed to have a baby (*ahem*, this is a very old excuse!) or need a car or have all the roof shingles blow into the backyard during a freakish wind storm. We always thought paying for the new furnace, thereby not freezing our patoots off, trumped stone-cold cash in the bank, and while we didn’t exactly put the furnace on a charge, we didn’t save up for it, either.

An emergency fund, you see, is not an account in which you save for FORESEEABLE expenses like car repairs (cars do break down, you know) or new appliances (these days, those darned washers and dryers have a predictably short lifespan). No, THOSE items we’re supposed to be saving for all along. An emergency fund is for those items and events we can’t possibly foresee needing, like an impromptu trip to Ireland or a yacht. You get the idea.

If you, like me, have focused more on your emergency fun than your emergency fund, hang with me. As improbable as it seems, we might be able to do better. We might be on track to actually grow up sometime before we croak.

So, if you still hesitate to bite the deferred gratification bullet, wait no longer! Set up an automatic withdrawal from your checking account into one of those online savings accounts like HSBC (currently paying 3.5% interest), and start your very own emergency fun.

Are You a Late Boomer?

If looming retirement is catching you off-guard between an aging parent and a revolving-door kid, you might be. If you've delayed travel only to discover they've changed the names of all the countries, you are. And if you're a member of the Baby Boomer Generation who's ready to give back but you've forgotten where you put it, stay tuned. From healthcare to personal finance, from career changes to volunteerism, it's time to boom where you are planted.